Find the amount and compound interest on Rs. 8000 for one and a half years at 10% per annum, compounded half yearly

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Solution

$D e a r s t u d e n t, Q . C a l c u l a t e t h e a m o u n t a n d c o m p o u n d i n t e r e s t o n r s 8000 f o r 2 y e a r s a t 12.5 % c o m p o u n d e d a n n u a l l y . S o l . P = R s . 8000; r = 12 \frac{1}{2} % p . a; t = 2 y e a r s A m o u n t, A = P {(1 + \frac{r}{100})}^{t} A = 8000 {(1 + \frac{12.5}{100})}^{2} A = 8000 {(1 + \frac{125}{1000})}^{2} A = 8000 (\frac{1125}{1000}) (\frac{1125}{1000}) A = 10, 125 I n t e r e s t = A m o u n t - P r i n c i p a l = R s . 10, 125 - 8000 = R s . 2125 R e g a r d s$

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